Price T Rowe Associates Inc. MD Acquires 105,263 Shares of Medtronic plc (NYSE:MDT)

Price T Rowe Associates Inc. MD boosted its stake in shares of Medtronic plc (NYSE:MDT) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,041,286 shares of the medical technology company’s stock after buying an additional 105,263 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.55% of Medtronic worth $562,460,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mainstream Capital Management LLC purchased a new stake in shares of Medtronic during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. raised its stake in shares of Medtronic by 753.8% in the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after buying an additional 294 shares during the period. Stephens Consulting LLC lifted its position in shares of Medtronic by 145.7% during the 4th quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Medtronic during the 4th quarter worth $36,000. Finally, Chelsea Counsel Co. purchased a new stake in Medtronic in the 3rd quarter worth about $45,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MDT has been the topic of several recent research reports. Robert W. Baird upped their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Truist Financial cut their price target on Medtronic from $93.00 to $90.00 and set a “hold” rating for the company in a report on Friday, April 11th. Finally, Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $96.14.

Medtronic Stock Up 0.6 %

MDT stock opened at $84.24 on Friday. Medtronic plc has a 1-year low of $75.96 and a 1-year high of $96.25. The stock has a market cap of $108.04 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $88.18 and its 200 day moving average is $87.29.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Sell-side analysts predict that Medtronic plc will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, March 28th. Medtronic’s payout ratio is currently 85.11%.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.